Month: June 2024

US Lawmaker Proposes Stricter Digital Asset Regulations to Enforce Russian Sanctions

U.S. Congressman Brad Sherman has proposed an amendment designed to enhance the enforcement of sanctions on Russian digital assets. The amendment allows the Treasury Secretary to prohibit crypto transactions linked to Russian entities and requires U.S. taxpayers to report crypto transactions offshore exceeding $10,000 to the Financial Crimes Enforcement Network (FinCEN). New Amendment Seeks to […] Source CryptoX Portal

VC Firm Paradigm Secures $850 Million For Crypto Projects In Latest Fundraise

boss

Venture capital firm Paradigm has reportedly raised $850 million for its third fund, supporting early-stage cryptocurrency initiatives led by Coinbase co-founder Fred Ehrsam and ex-Sequoia Capital partner Matt Huang.  Increased Venture Capital Interest In The Industry Paradigm’s previous investments include prominent projects like decentralized exchange (DEX) Uniswap and Optimism, a scaling solution for the Ethereum blockchain.  According to Bloomberg, with the capital raised in the latest funding round, Paradigm aims to contribute to early-stage crypto work and plans to prioritize such projects in the future. Related Reading The latest fundraising…

This Dogecoin Metric Just Turned Bullish For The First Time Since 2020

boss

Dogecoin (DOGE) is again in the spotlight as the foremost meme coin could be ready for takeoff. This follows crypto analyst Kevin’s (formerly Yomi OG) analysis of Dogecoin, in which he highlighted an important indicator that has turned bullish for the crypto token.  Dogecoin Indicator Turns Green For The First Since 2020 Kevin mentioned in an X (formerly Twitter) post that the 12-day time frame on the Gaussian channel just recently flipped green on Dogecoin’s chart for the first time since December 2020. He claimed that this indicates a “potential…

Tesla CEO Elon Musk Warns Against Government Overregulation

Tesla CEO Elon Musk has expressed concern that excessive government expansion leads to more regulators than participants, negatively impacting the system. Musk acknowledged the need for regulators but stressed they should not outnumber players. He reiterated that the government should act as a referee, setting sensible rules without hindering industry progress. Elon Musk Says Government […] Source CryptoX Portal

Lido (LDO) Poised For Explosive Surge To $17, Expert Forecasts ‘Massive Breakout’

boss

Lido Finance, the liquid staking protocol for the Ethereum (ETH) network, has experienced significant price declines over the past two weeks, largely influenced by the market’s downtrend and the lack of bullish momentum. However, a notable breakout could be in the making for the protocol’s native token, LDO, despite negative financial metrics.  Lido And Mellow Finance’s Partnership Despite the challenging market conditions, Lido has made notable strides within its ecosystem. Collaborating with Mellow Finance as part of the Lido Alliance, the protocol has introduced advanced decentralized finance (DeFi) strategies for stETH…

Former Goldman Sachs Exec Joins Anchorage Digital’s Board of Directors

Anchorage Digital is the only crypto bank currently chartered by the Office of the Comptroller of the Currency (OCC). Other institutions, including Paxos and Protego, have attempted to receive a full charter from the OCC but have failed to move past the provisional charter hurdle. With the boom of institutional interest in crypto spurred by the approval of spot Bitcoin exchange-traded funds (ETFs), Anchorage Digital’s business is growing, a company spokesperson said. Source

Pyth Network launches GMCI 30 crypto market index

The Pyth Network has announced the launch of the GMCI 30 Index Price Feed, making the GMCI crypto market price index accessible to over 60 blockchain ecosystems.  This launch is a step towards providing smart contract and blockchain developers with real-time financial data. “We are excited to announce that Pyth Network will be streaming GMCI index prices,” said Maarten Botman, CEO of GMCI. “This collaboration represents a significant step forward in our mission to become the benchmark of choice in the crypto space.” GMCI specializes in creating indexes for digital…

Curve Founder Faces Massive Blow As CRV Price Dives 40%, Multi-Million Dollar Liquidations

boss

A sudden and dramatic crash in the value of Curve Finance’s native token, CRV, has resulted in substantial losses for bullish investors and the platform’s founder, Michael Egorov. Blockchain analysis platform Arkham reported that Egorov faced liquidations totaling $140 million in CRV. Curve Finance Founder Egorov Liquidated In a social media post on X (formerly Twitter), Arkham confirmed that Egorov’s lending position worth nine figures was liquidated across five protocols due to the price of CRV dropping below his liquidation threshold.  Related Reading Egorov’s accounts incurred over a million dollars…

Analyst Predicts 35% Jump For Bitcoin In Next Step Of ‘Magic Bands’

boss

Despite the price crash after rising to $69,000, the Bitcoin price remains in the game, with bulls continuing to hold up the support above $67,000. Bullish sentiment also continues to prevail, with the market still being fairly greedy amid expectations that the pioneer cryptocurrency is gearing up for a significant price jump from here. Bitcoin Can Still Make A 35% Jump Crypto analyst CryptoCon has revealed that Bitcoin still has a ways to go before the cycle top is in. In the analysis posted on X (formerly Twitter), the crypto…